SC

If no one under 30 owns assets like a house, you have a huge existential problem Nations collapse quickly when the youth aren’t able to have any ownership The US is about 6 years from default and its the result of boomers choosing to nosedive the country

@UziCryptoo Stay home until 2 of 3 no longer require very expensive childcare

My friend and his wife have 3 kids He makes $80k working construction She makes $240k in sales She wants him to stay home with the kids because it’s cheaper than daycare But he wants to keep working and pay for daycare What would you do?

@owroot Daycare for very young kids is awful. If you don’t have 2 incomes that can easily afford a nanny one parent should stay home.

"You need over $400,000 for childcare in a two parent household." You know how much we spend on childcare for our three kids? ZERO.

@MattForVA Why are people genuinely so stupid. Sysco is a public company. Blackrock and vanguard manage public equity funds mostly for people’s brokerage accounts and 401ks. Do we not teach any basic financial literacy to high school students?

This isn’t a small deal. Restaurant Depot is where most mom & pop restaurants go to buy inventory because Sysco is so expensive. Restaurant Depot was privately owned. Sysco is owned by… you guessed it, BlackRock & Vanguard. Now private equity can control pricing for food costs with zero competition. Just like they did with housing. This should be an anti-trust violation, but we have politicians that work for Big Corp, not us.

GOP gubernatorial hopeful Bruce Blakeman denied matching campaign funds by Dems in party-line vote trib.al/M1BDHIO

New post: Prescription drugs are a large and rapidly growing source of revenue for some of NY's largest hospitals - largely due to the federal 340B discount program. Tax filings from Mount Sinai, NYU Langone, NY Presbyterian and LIJ each show nine-figure pharmacy sales in 2024

This should be a taxable fringe benefit. Clear value transfer. $60k per kid.

@PolicyEngineer “Smaller” is relative to the outrageously generous Tier 1-4 benefits. It’s not smaller than other states. Maybe tier 6 employees should ask their older colleagues why they’re such piglets?

No, New York's 2012 pension reforms are not "driving teachers out the door." Instead of talking about the NY policies that make it harder to recruit and retain teachers, the teachers union is instead demanding a $100B giveaway that will drive up property taxes.

NY's counties/cities/towns agree: #tier6 enhancement would "force local govts to make impossible choices: cutting...services, eliminating positions, or seeking property tax increases." NYS can't afford it either- and its unnecessary! Legislators: resist calls to sweeten Tier 6.

Wait the public unions want retirement at FIFTY FIVE? Call me a heartless bastard but 30ish years of not working on the taxpayer dime seems like incredible overkill. That's literally paying them twice for every year worked.

Every dollar of the NYS Tier 6 pension bomb should be taken & invested in salaries instead, especially starting salaries for hard-to-fill roles We must raise pay & attract talent in government. But it should be salary cash for filling needed roles, not a gerontocracy windfall

@ShabazzStuart Attempts to confiscate it have failed everywhere and are currently failing in Europe. The solution is strong judicial protections and antitrust to relentlessly give every child the opportunity to be upwardly mobile (look at Mississippi school reforms for example)

FWIW I'm actually pretty fiscally moderate-- but if you're going to argue that there are marginal tax rates that are too high, then you should also appreciate that there are scenarios where wealth concentration is also too high. 1% earning nearly half of income is crazy.

The dirty secret is demographics. Fewer 18-year-olds than 20 years ago and double the number 65 and up. In 6.5 years, the trust funds crack. This ends one of two ways. We get a lot more productive and crash healthcare costs, or the math buries us.

@smith158558 @JakeCan72 This is sadly a common occurrence for single parents (largely mothers) who often have multiple children and work sometimes 2-3 jobs. They don’t have the bandwidth to be involved sufficiently z

@JakeCan72 So she didn’t see a report card or meet with a teacher in 4 years? Regardless how poor the school’s performance, some self reflection on the parent’s part is also warranted

A Baltimore mother working three jobs thought her son was on track to graduate. The school kept promoting him. Then she learned the truth. In four years at Augusta Fells Savage Institute of Visual Arts in West Baltimore, he passed three classes. He earned 2.5 credits. He failed 22 courses. He was late or absent 272 times. His GPA was 0.13. The school promoted him anyway — from Algebra 1 to Algebra 2 after failing Algebra 1. From English 2 to English 3 after failing English 2. His class rank was 62 out of 120. Nearly half his classmates had a GPA of 0.13 or lower. In four years, one teacher requested a parent conference. It never happened. No one told his mother he was failing. The school’s response was a two-page statement explaining what should have happened. He was moved back to ninth grade. She pulled him out. Enrolled him in an accelerated program. He graduated in 2022 with mostly A’s and B’s. That was one student. One mother. One accelerated program that happened to work. His school still operates. The district around it has not fundamentally changed. Baltimore City Schools received a 38% funding increase since 2017. Chronic absenteeism district-wide runs at roughly 45%. Academic proficiency in Algebra 1 sits at approximately 9%. The school didn’t fail him because it lacked money.

@JakeCan72 This reinforces the fact that you can spend completely unlimited sums but without forcing kids to pay attention to the material to move up grades as a stopgap for single mothers who aren’t able to actively participate, children of single mothers will never be upwardly mobile

progressives: 1. destroy American dynamism through a half century of overregulation and excessive government spending, mainly on senior citizens 2. “Look at what neoliberalism did!”

@IamSean90 JUST MAKE THE HOUSING CHEAPER BY BUILDING MORE OF IT AND ABOLISHING RENT CONTROL

NYC did universal Pre-K in 2014 & the population of young children decreased, later they did 3K & guess what more families left. Most countries with a universal childcare program have lower birth rates than America which doesn't. Can we stop pretending that this is a solution

@SenSanders JUST MAKE THE HOUSING CHEAPER SO A PARENT CAN AFFORD TO STAY HOME WITH THEIR CHILD

Mayor Mamdani is right. Families in New York City deserve free child care. But it’s not just New York. Instead of giving tax breaks to billionaires, Congress must pass a universal child care bill to guarantee high-quality child care for every American family.

A little math for the math-inclined: $2.3m over 40 kids? ...$57,500 per child.

Great to see the NYT take on generational injustice! "In 1990, more than two-thirds of wealth was held by working-age households. Today, the shares have flipped. Nearly two-thirds is held by American households over age 60." This piece doesn't adequately grapple with the fiscal burden that Boomer privileges have left younger generations to deal with, however. The national debt is already approaching historic levels. Social Security and Medicare are *already* short $88.4 Trillion over the next 75 years. They'll cost ~$2.6 Trillion this year, alone. And we're already heading towards massive senior entitlement cuts, or tax hikes, within the next 6 years. That's the baseline for any discussion about new government programs. Now, add "comparable" youth spending on top of Total Boomer Luxury Communism, and you're looking at European-style economic stagnation and large middle class tax hikes. No amount of taxing billionaires and corporations will be enough to maintain SS and Medicare while creating massive new youth-targeted programs. Instead, go directly after unjust senior wealth accumulation: Repeal all government policies that favor rich Boomers, first. This will create more economic growth and more fiscal space, while helping to avoid imposing massive tax hikes and debt burdens on younger workers. To start: - Flatten Social Security benefits. No Boomer household deserves to receive $100k+ a year, funded by poorer working families. A $3k a month max per person is more than enough to keep seniors out of poverty. - End Medicare Advantage overpayments. No government-subsidized pet food, gym classes or tennis lessons. - Increase IRMAA in Medicare - Repeal all special senior tax breaks, reform zoning and housing regulations. It makes little sense to keep the Boomer privileges in place, but add youth programs on top of it. That's one hand fighting the other. Instead, go after the source of the problem: the gerontocratic state. And fix it.